Contract Process

  • STEP 1

  • STEP 2
    Taking over in Process

  • STEP 3

STEP 1 : Payment

  • First, the advance payment will be paid based on the area type of unit at one of the certified banks’ branches.
    ※ You can check out all of the certified banks’ branches at the Notice menu.
  • Once the payment proceed, the deposit receipt should be taken by customer to Sales Center of BNCP to sign the sale contract of housing unit (in presence of unit owner) with brining official required documents of the buyer (with copy).
  • The unit type (Traditional or Modern) will be selected as per to buyer’s desire upon contracting, or according to what is available by NIC. Also, the unit type can’t be changed after completing the contracting process.
  • After completing the contract at Sales Center, the buyer should visit one of the certified banks to provide a copy of the contract as a proof, in order to start the mortgage loan and installment process.

STEP 2 : Taking over in Process

  • Once the mortgage loan process is completed, the bank will forward the names of buyer (Specific Buyers Group) to the general management of bank, and then they will forward those names to NIC as notification.
  • The floor and unit location will be allocated through electronic lottery managed by NIC exclusively.
  • Then, the list of outstanding buyers’ names will be announced in the official Facebook page belongs to NIC (or Sales Center official homepage) based on lottery results.
  • Once the buyer’s name is announced with paying the balance payment, the customer must go to Sales Center of BNCP to complete the application form for resident ID card with bringing required official identification documents with 2 personnel photos, sales contract copy and deposit receipts.

STEP 3 : Key Hand-over

  • In order to take your unit’s key, you should go to NIC office at BNCP (Management Office) with brining your official required identification documents and 2 photos to fill the security-clearance application form by the unit owner exclusively.
  • 2. The resident should pay an advance amount of 10,000 IQD as a service fee before receiving the key.